TGS ASA: årsregnskap 2021 vs 2020
Shrank 16% on revenue
approved 2022-03-30; registry 2022-05-25; journal 2022 268948
Summary
What changed
Comparing Årsregnskap 2021 with 2020 for TGS ASA. Revenue 170.54m NOK → 142.76m NOK (-16.3%). Net result -61.46m NOK → -55.48m NOK. Equity 252.83m NOK → 116.84m NOK.
On the constructive side: operating result improved; net result improved; cash rose. Pressures included: revenue fell; equity eroded; current ratio dropped below 1×.
Also worth watching: paid-in equity reduced; cogs fell; book investments changed. All figures are taken from the published annual accounts for TGS ASA.
At a glance
Scorecard
What improved
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Operating result improved
Operating result -104.33m NOK → -53.95m NOK (op. margin -61.2% → -37.8%). Calculated
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Net result improved
Net result -61.46m NOK → -55.48m NOK (net margin -36.0% → -38.9%). Calculated
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Cash rose
Bank deposits 13.75m NOK → 32.98m NOK (+139.9% YoY). Calculated
What deteriorated
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Revenue fell
Operating income / revenue moved from 170.54m NOK to 142.76m NOK (-16.3% YoY). Calculated
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Equity eroded
Book equity 252.83m NOK → 116.84m NOK (equity ratio 21.2% → 11.6%). Calculated
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Current ratio dropped below 1×
Current ratio 837.24× → 0.78× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
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Payroll up without matching revenue
Salary cost 8.75m NOK → 9.86m NOK (5% → 7% of revenue). Calculated
Things to notice
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Paid-in equity reduced
Paid-in equity fell 252.83m NOK → 116.84m NOK — check capital reduction, conversion, or reclassification. Interpretation
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COGS fell
COGS / varekostnad 134.0k NOK → 800 NOK (-99.4% YoY). Calculated
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Book investments changed
Investment / intangible book value 153.9k NOK → 113.91m NOK. Reported fact